Placentia, CA - Chick-fil-A

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN, new construction, Chick-fil-A investment property located in Placentia, California (Orange County). The tenant, Chick-fil-A, Inc., recently signed a brand new 15 year lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

Chick-fil-A is strategically located at the signalized, hard corner intersection of Alta Vista Street (15,000 VPD) and N. Rose Drive (31,000 VPD), nearby multiple points of ingress/egress of State Highway 57 (328,000 VPD), a heavily trafficked highway utilized by commuters throughout Orange County. The site will receive significant consumer traffic from its position at the intersection in addition to crossover retail exposure from the Ralphs grocery-anchored Village Center at Rose shopping mall directly across Alta Vista Street. The center receives over 2 million annual visits (per Placer.ai). The tenant will have access to a dense, affluent Orange County consumer base including the nearby Cal State Fullerton, one of the largest universities in California, with an enrollment of over 41,000 students, and the adjacent Vista Rose single-family gated community development. The surrounding 5-mile trade area consists of over 382,400 residents and 208,900 employees with an average household income $156,864. Moreover, residents within 1 mile of the subject property boast an AHHI of $173,273. Placentia is a highly sought-after community in Orange County due to its excellent schools, vibrant local amenities, centralized location in Orange County, and affordability in comparison to its neighboring coastal communities.